Filed August 19, 2021
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| Provider | Service type | Compensation |
|---|---|---|
Filed as: MUTUAL OF AMERICA LIFE INSURANCE CO Service code 12 320 PARK AVENUE · NEW YORK, NY 10022 | Claims processing; Recordkeeping and ... | $2,264 |
Assets per participant are in the bottom quintile of the peer cohort - savings-rate / match opportunity.
Auditor declined to express an opinion - usually a 103(a)(3)(C) limited-scope election.
| Metric | This plan | Peer set | Industry | Size |
|---|---|---|---|---|
| Avg account balance | $11,212 | $47,977-76.6% | $154,108-92.7% | $56,289-80.1% |
| Participation rate | 94.2% | 66.2%+28.0pp | 83.0%+11.1pp | 69.9%+24.3pp |
| Annual return | -2.62% | 3.54%-6.2pp | 735.21%-737.8pp | -9.96%+7.3pp |
| Employer contribution / active EE | $1,531 | $2,169-29.4% | $5,298-71.1% | $2,111-27.5% |
| Participant deferral / active EE | $2,265 | $2,392-5.3% | $5,081-55.4% | $3,350-32.4% |
| Admin fee / account holder | $25 | $438-94.3% | $13,411-99.8% | $521-95.2% |